Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) had its price objective upped by equities research analysts at Truist Financial from $155.00 to $200.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 14.07% from the company’s previous close.
NBIX has been the subject of several other reports. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a research report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target for the company. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. BMO Capital Markets increased their target price on Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a research note on Monday. Royal Bank Of Canada raised their target price on Neurocrine Biosciences from $183.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, Citigroup lifted their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.67.
Read Our Latest Analysis on NBIX
Neurocrine Biosciences Price Performance
Insider Transactions at Neurocrine Biosciences
In related news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the transaction, the director directly owned 34,480 shares of the company’s stock, valued at $5,435,772. The trade was a 30.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.25, for a total value of $1,762,750.00. Following the sale, the insider owned 25,846 shares in the company, valued at approximately $4,141,821.50. This trade represents a 29.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 379,805 shares of company stock valued at $59,634,666 in the last 90 days. Insiders own 4.60% of the company’s stock.
Hedge Funds Weigh In On Neurocrine Biosciences
Several hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. grew its position in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. DJE Kapital AG purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $28,000. Basecamp Wealth Advisors LLC raised its stake in Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Neurocrine Biosciences during the 1st quarter worth $33,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
About Neurocrine Biosciences
Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.
The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.
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